Chemical News
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Europe: German petrochemical producers keep feedstock mix steady in 2010 Mar 09,2011
The German petrochemical industry increased oil product consumption in 2010 by 8% year-on-year to 22.76 million mt while keeping the feedstock mix largely steady, an analysis of data released by the Federal Office of Economics and Export Control Monday shows. Naphtha volumes used in chemical processes, including returns from the petrochemical in...>>>
Americas: Central Appalachian barge coal extends rally, Q4 sees heavy volume Mar 09,2011
Central Appalachia thermal coal prices rose for a fifth straight session Monday, with longer-dated CAPP barge Q4 2011 contracts trading in exceptionally high volume. Prices for that contract ended the session at $76/st, up $1/st from Friday's Platts assessment. Q4 2011 traded at $76.25/st for five barges 16 times, $76.25/st for 10 barges three ...>>>
Americas: Radium levels OK in major Marcellus rivers: Pennsylvania DEP Mar 09,2011
Water flowing downstream from seven water plants treating Marcellus Shale drilling wastewater shows no sign of elevated radium isotopes, the Pennsylvania Department of Environmental Protection said Monday. The DEP said in-stream sampling stations installed last fall showed levels of radium isotopes 226 and 228 were at or below normal levels foun...>>>
Asia: Australian 2010 gas production at all-time high of 1,999 Pj: report Mar 09,2011
Australian natural gas production reached an all-time high of 1,999 petajoules (1.8 trillion cubic feet) in 2010, up 5.1% year on year, according to a report from energy economics group EnergyQuest released Tuesday. LNG production also hit a new record, up 6.2% year on year at 19.8 million mt, the group said. That was due to the ramp-up of outpu...>>>
Europe: LECG consultancy study offers three options for Europe gas model Mar 09,2011
A new study released by UK energy regulator Ofgem late Monday presents three main models as possible options for the future of Europe's gas market. The study was prepared by consultants LECG for Ofgem as a contribution to ongoing debates by European regulators. TWO WAYS TO DEFINE MARKET STRUCTURE The paper says that there are two main way...>>>
Americas: US majors, international trading houses say complying with sanctions on Libya Mar 09,2011
Major US oil companies and international trading houses that have traded with Libya are falling in line with newly imposed sanctions against conducting commerce with that country, a Platts survey showed Monday. ConocoPhillips, ExxonMobil, Hess, LyondellBasell, Marathon Oil, Occidental, Valero and traders Glencore, JP Morgan, Koch, Trafigura, and...>>>
Asia: S Korea eyes South America to diversify crude import sources Mar 09,2011
South Korea has dispatched an energy delegation that includes officials from state-run Korea National Oil Corp to South America to seek oil development opportunities as part of efforts to diversify its crude import sources, the energy ministry said Tuesday. Energy and resources ambassador Kim Eun-Seok is leading the 23-member team comprising gov...>>>
Europe: Airlines left with few easy options as jet fuel prices spike Mar 09,2011
Airlines are facing tough decisions to protect their profits under pressure from the strength in jet fuel outright prices since the unrest in the Middle East that started in Tunisia in early January, market sources said. Airlines in recent years have resorted to raising their fuel surcharges to at least partly cover the rise in their fuel bill w...>>>
China: Sinopec (Hong Kong) renews lease contract for 400,000-cu-m LPG terminal in S. China's Zhuhai Mar 09,2011
Sinopec (Hong Kong) recently resumed a 1-year contract with Zhuhai SinoSiam on renting 400,000-cu-m LPG terminal in Zhuhai City of South China's Guangdong Province, C1 learned from an international trader. A source with Sinopec (Hong Kong) in charge of LPG business confirmed the news without giving more details. Sinopec (Hong Kong) has been r...>>>
China: PetroChina expects to finish GB III vehicle-use gasoil upgradation before Jul Mar 09,2011
PetroChina is expected to wrap up upgradation of vehicle-use gasoil from GB II standard to GB III standard before July, when China would implement GB III emission standard for vehicles in the whole nation, C1's research found. The oil giant has started to prepare for the upgradation since late February. PetroChina's refineries mainly cluster in...>>>
China: Sinopec starts overall construction of Changsha-Chenzhou oil product pipeline in Hunan Mar 09,2011
Sinopec has started construction of the Xiangtan-Loudi, Xiangtan-Hengyang and Hengyang-Chenzhou sections of the oil product pipeline between Changsha and Chenzhou in Hunan, C1 learned from sources with Sinopec. Thus all the sections for this pipeline are under construction. The company is expected to bring the three sections on stream at the end...>>>
China: PetroChina Dalian Petchem suspends slurry production on maintenance as from Mar 7 Mar 09,2011
PetroChina Dalian Petrochemical has suspended slurry production owing to 45-day maintenance of a catalytic unit as from Mar 7, according to trading sources in East China. The refinery will resume slurry production in the second half of April, said some sources. This has not been confirmed by sources with Dalian Petrochemical. Dalian Petroc...>>>
China: Sinopec spurs extra gasoline production to steer away from supply crunch Mar 09,2011
Sinopec has recently informed underlying refineries to increase gasoline output and announced to give subsidies to those producing more than scheduled, according to refinery sources. The oil giant hiked ex-refinery prices of 90-Ron, 93-Ron and 97-Ron gasoline beyond production plans by Yuan 730/mt, Yuan 770/mt and Yuan 800/mt, respectively, the ...>>>
Americas:How US consumption creates the $4 gasoline? Mar 08,2011
"At this point, it's almost certainly too late to manage a transition to sustainability on a global or national scale, even if the political will to attempt it existed, which it clearly does not. Our civilization is in the early stages of the same curve of decline and fall as so many others have followed before it. What likely lies in wait for us i...>>>
Americas:US joins International Renewable Energy Agency Mar 08,2011
World's largest energy consumer, the US Joins the international renewable energy agency (IRENA). The United States has become the 63rd member of the Agency by depositing its instrument of acceptance, the State Department said. IRENA was formed in 2009 in response to growing international interest in the adoption of renewable energy technolo...>>>
Europe:Brent crude rises above $117 a barrel Mar 08,2011
London's Brent oil futures crossed the $117 barrier in early European trade Monday on lingering concerns that MENA crisis might hit new heights soon. Brent crude oil futures for April 2011 delivery was trading at $117.38 a barrel, at 4.00 p.m Indian time this morning on the ICE Futures Exchange. US Light crude oil futures for April 2011 de...>>>
Americas:Why geothermal power capacity is set to surge 134% in a decade Mar 08,2011
Geothermal power capacity is set to rise 134% from 10.7 gigawatts to 25.1 GW between 2010 to 2020, accordign to a new report from Pike Research. The rise in geothermal energy generation is being driven by energy demand and the need to drive low carbon development, the report added. A clean, base load source of power, geothermal offers consisten...>>>
Asia:Oil eases in Asia amid conflicting Libya reports Mar 08,2011
World oil prices dropped for the first time since Friday on reports that Libya tensions may ease soon and also on profit taking by some investors. April delivery crude in the US was seen trading at $104.89 a dollar at 12.00 noon Singapore time while Brent crude was at$114.71 a barrel in London. Analysts said reports that Libyan dictator Mua...>>>
Middle Eastern producers announce March PP, PE prices Mar 08,2011
Middle Eastern producers started to reveal their March PP, LDPE, HDPE and LLDPE film prices to the global markets including China, Turkey and Egypt. In Egypt, this week, more Middle Eastern producers showed up following their absence during the political turmoil in February. A Middle Eastern producer, who was offering to Egypt during the social ...>>>
Americas: US February ethylene CP settles at 49 cents/lb, up 3.75 cents Mar 08,2011
US ethylene contracts for February settled up 3.75 cents at 49 cents/lb, two market sources said Friday. The roughly 8% hike had been expected given stronger spot values since before midmonth, market participants said. Ethylene had previously settled at 45.25 cents/lb for January, down 3.25 cents from December. In essence, producers reclaimed...>>>